The Most Common Type of Liability Is

question 155

Multiple Choice

The most common type of liability is:

• A) One that comes into existence due to a loss contingency.
• B) One that must be estimated.
• C) One that comes into existence due to a gain contingency.
• D) One to be paid in cash and for which the amount and timing are known.

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Definitions:

Stressful Family Circumstances

Situations within a family that cause stress, tension, or conflict among its members.

Reduced Mental Ability

A decrease in cognitive function that may affect memory, reasoning, and other mental activities.

Heritability

A statistic used in genetics to estimate the degree to which variation in a trait across a population is due to genetic differences among individuals.

Trait

A characteristic way of thinking, feeling, or behaving that tends to be consistent over time and across situations.